Financing A Rebuild & Truck Value

[JKBowman]

1) Anything you care to share about your experience financing a rebuild (rates, lenders you like, scams, collateral requirements, etc.)

2) Determining the value of your truck pre and post rebuild. What sources do you use?

I just started working with the same loan broker I used to pay off my truck. That was a good experience. I wound up at TAB Bank with a good interest rate. But this may be different.

Mileage is really high now (1.14 mill), and yesterday he asked me what I thought the value would be AFTER rebuild. I didn't know how to back up anything I might say.

[Evotrucker]

what kind of truck do you have? pics would be nice!

[JKBowman]

Nice to meet ya, Evotrucker

I have a pic and some history here:
http://rawze.com/forums/showthread.php?tid=4248

I'm not really asking for a specific number though. That might be helpful, but more generally I'm asking where I can find comparables. Is there any way to back up whatever number I suggest?

Also, in terms of bang for the money, what can I expect following a rebuild. Is it like remodeling a kitchen in your house (big bang) or adding a pool?

Anyway, I hope I'm not over thinking this but I'm at the point where some numbers are going to be required. If there are some good ones out there that will help me, I want to find them. And I want a good interest rate.

[Lonestar10]

Truckpaper.com search your specs and find non overhauled and overhauled and you can then see the market values.

overhaul will be anywhere in the neighborhood of 25-30k depending on hourly rates at the shop and what all you do back in jan last year my dad overhauled his cm870 for 30k that was all balancing and ujoints in driveline, new head, new cams.

its all going to come down to what is still in spec to be reused on some items.

At the end of it you know all there is to know about your truck vs spending 30-50k for a used truck you know nothing about or 110-150k for a new truck that may or may not cost you money just by the downtime it maybe have under warranty.

[Nilao]

Rebuilds do little for truck values if were talking bank loan value. It might hive a small bump but not much.

I financed my rebuild as a equipment loan. 20k at 9.25% from my credit union. No collateral required.

[Evotrucker]

(03-10-2019 )Lonestar10 Wrote:  Truckpaper.com search your specs and find non overhauled and overhauled and you can then see the market values.

overhaul will be anywhere in the neighborhood of 25-30k depending on hourly rates at the shop and what all you do back in jan last year my dad overhauled his cm870 for 30k that was all balancing and ujoints in driveline, new head, new cams.

its all going to come down to what is still in spec to be reused on some items.

At the end of it you know all there is to know about your truck vs spending 30-50k for a used truck you know nothing about or 110-150k for a new truck that may or may not cost you money just by the downtime it maybe have under warranty.

I was going to suggest looking on truck paper. I looked it up just to see and im surprised at the miles and prices.

25k gets you 700k miles - 900k miles on truck and motor.

If the head is reusable then that's a big plus!.

It's sort of justifiable to spend 30k to replace anything major first, its just cheaper long term wise. I mean you could get by for a very long time with spending 20k. Sometimes you just never know but you gotta be prepared for anything these days.

You can sell the truck at w.e value you want, most of these dealerships are doing just that!. I would just insure it for 35k-40k.

[JKBowman]

(03-10-2019 )Nilao Wrote:  Rebuilds do little for truck values if were talking bank loan value.

This is what I seem to be figuring out. And yes, we are talking bank loan value.

My finance guy asked me to estimate value (pre and post rebuild). I was hoping to find something like a Kelly Blue Book for big trucks, but that doesn't appear to exist.

I'll just use what I can. (TruckPaper, etc.)

Final note: Personally, I don't give a rat's dang about book value. I didn't even really care about that when she was new. For me, it's all about cash flow and turning a profit.

Rebuilding seems to be the cheapest way to keep me going down the road in a truck that I like and already understand.

That's how I'll make the most money. (I hope)

Thx for all the replies.

[Waterloo]

Like Nilao stated, a rebuild is not really worth that much on the bank side. Even my insurance company was not interested in how much was put into the truck. They all go off of book value anymore. Fix the truck properly, and you know what you have. The reason I keep mine, and keep rebuilding, eventually, one day, it will be brand new, and I can start all over again. ;-)

[Magard]

I just bought a truck with a Cummins reman complete engine. Aircompersor turbo everything. 150000 miles later it drops a valve. A reman isn’t worth shi#t unless you know if it was built to Rawze dot com. Standards. I don’t think banks really care what mantianance was done on it. Banks just know year and model. For me, I won’t buy a truck with a reman in it ever agian. If your truck is rebuilt engine I don’t want it. There not worth more to me and I’m sure there are others that feel the same. I’m not saying don’t rebuild it. I’m just trying to give you a perspective from some of us that have bought trucks and learned the hard way.